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01/12
22:32
Understanding The Minefield of Car Insurance
Looking for a car, be it a brand new model or a pre-loved car with one or more previous owners, you do compare the many features of the vehicle. Yet when insuring your car, many times this is the last thing you would think of doing. Yes, you make sure you ask what is the cost of insuring the particular car you are about to buy. The savings on premiums offered for low-cost policies could also influence you.
Yet, you could be paying more in the long term.
When You Are Liable
How these low cost insurance policies work is, that they have low liability limits, some could be as low as $25,000, this could mean if you are involved in an accident and are liable then you could be responsible for paying for the other person, the hospital and medical expenses, loss of income and other damages. $25.000 doesn’t go far these days so the amount over and above you would be personally responsible for.
Always make sure you have enough cover with your car insurance policy. Read your policy carefully and when you are not understanding something or are not sure, get advice from someone who
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